Some people get into debt by buying things they do not need and are unable to afford. What are the reasons for this behaviour?

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Many
people
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are trapped into debt by being consumptive for buying things that are not really important and which they cannot afford. In my view,
this
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behaviour
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occurs because often
people
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want to impress their peers.
Moreover
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, impulsive buying can happen because
people
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do not have enough
knowledge
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about finance.
This
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can be changed by being mindful of themselves, and not actually paying attention to what other
people
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are thinking.
Firstly
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,
such
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acts as impulsive buying can happen
due to
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the fact that many
people
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care more about their surrounding opinions
about
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apply
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them
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apply
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than their own actual needs.
Furthermore
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, the act of sudden buying will only satisfy their ego, not fulfil their needs. One clear example is when something that person really needs is a new bag to carry around work stuff,
on the other hand
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, their peers pressure them to buy a fancy bag and make them end up buying the fancy bag.
Secondly
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, the
behaviour
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can occur when
people
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do not have adequate
knowledge
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about finance.
As a result
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, it can lead to unwise financial decisions
such
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as sudden buying without concern about whether it is urgent or not.
For
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this
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reason, if
this
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kind of
behaviour
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is kept repeating will result in financial shambles for that respective individual.
For instance
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,
people
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with a good salary but who do not have financial
knowledge
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will often splurge their salary to buy things that have no urgency. That kind of
behaviour
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can be prevented by focusing on what actually matters, not what can impress
people
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. By being mindful, the urge to splurge huge amounts of money to impulsively buy something can be suppressed. In conclusion, impressing
people
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and not having financial
knowledge
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could be a disaster for your finances. One of the ways to prevent it is to be mindful of acquiring something
that is
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really needed.
Submitted by nputera.ramadhani on

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    • Sentence 1 - Topic sentence
    • Sentence 2 - Example
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    • Sentence 1 - Topic sentence
    • Sentence 2 - Example
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